IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Tuesday, December 13, 2011

Saab reconstruction hearing to be held Monday

TTELA reports that Saab has requested a oral hearing with Vänersborg District Court concerning the reconstruction process. The district court has allowed Saab to present its response to the administrators request that the reconstruction should be ended. The proceedings will be held on Monday at 13:00 CET.

This means that Saab has gotten four more days to prepare its presentation to the court. And also four more days to secure funding that will allow the company to continue the reconstruction.

Earlier today we got the news that Saab had gotten EUR 3.4 million from Chinese Youngman. Enough to cover incurred taxes. But still several millions are needed to pay salaries for November and December and to secure a continued reconstruction. The coming days will see if Saab and its parent company Swedish Automobile will be able to secure the needed funding.